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3 Top Career Trends of Young Physicians – 1/31/2013

Bureau of Labor Statistics lists the average physician’s wages as $166,400 per year. This makes going into medicine not only mentally rewarding, but financially rewarding as well. Physicians make the world go round. Medical science is always on the cusp of discovering something new and medical schools are churning out the specialists needed to put these discoveries into practice. Unlike the older generation, the younger physicians are moving towards some pretty surprising trends that work for the good of the patient as well as a physician. Many of these trends revolve around having adequate time off and lowering stress levels.

Working in a Group Practice

An article published in the Postgraduate Medicine Journal 2012 stated that extended work hours, interrupted sleep and shift work among resident physicians lead to chronic sleep deprivation resulting in numerous adverse consequences. Working in a group practice takes the brunt of the stress off of one physician and divides it between many. Younger physicians are looking to spend equal amounts of time inside and outside of the practice, which could come about in this way. Younger physicians also choose to work in a group practice because the income is guaranteed and they're less likely to have to work late nights or weekends. Those who choose to work in a group practice also do so to prevent the financial burden that uncertainties in the medical field often cause.

Shifting from a Private Practice to Hospitals Staff

A recent New York Times article stated that young physicians who are burdened by medical school debts are deciding against opening private practices and are instead accepting hospitals salaried positions.

Most of the younger physicians are looking towards spending more family time away from the excitement of being a physician. This often makes working in a private practice a more suitable and desirable option. Not only can a private doctor schedule his own hours, but he can also hire an assistant to help out on days where it's particularly busy or for those days where there are family emergencies. However, many private physicians are racing to sell their practices to hospitals in order to escape overhead costs and administrative hardships. Hospitals are also looking to purchase these practices as they seek to increase their staff of physicians.

Seeking out a Specialty

More and more hospitals are seeking physicians who carry a specialty. Most hospitals have their pick of physicians who are educated in general medicine; however, most hospitals lack on-staff specialists. As hospitals trend towards incorporating an all-inclusive staff; having a medical specialty is often desired. The inclusion of specialists on a hospital's staff can help with emergency room calls, capital investments and more importantly, it lowers operating costs.

These trends will no doubt change the way that medical treatment is provided for future generations. With doctors having adequate time away from the practice, compassion fatigue and stress will decline, resulting in better patient care and increased alertness. These trends may also attract more students to pursue medicine as a career.